A Sweeping Down Day: 21.10.2011.
On price chart, Nifty October futures opened at 5102, made a high of 5131.40 went straight down to 5038.60 and finally closed at 5054 down by 48.85 points. Bank Nifty too followed downward trend, opened at 9783 went up to 9826 drifted down to 9665 and finally closed at 9687.05 down bu 85.70 points.
On volume chart, total no.of contracts traded were58.86 lac and total turnover was 1.50 lac Cr both down from yesterday's level. Put Call ratio was 0.93 and volatility as measured by India VIX stood at 26.3 up by 3 %. Traded quantity and no,of contracts traded were higher than yesterday on net basis across all series though no.of trades were lower than yesterday. Open Interest was up by 1491500 on net basis across all series.
On stock futures front, top traded shares were LT, SBIN, JSWSTEEL, RELIANCE and ICICIBANK. Top gainers were MOSERBAER 8% RAYMOND 8% TULIP 5% CHAMBLFERT 3% BRFL 2%. Top losers were POLARIS -6% JAINIRRIGATION -5% ASIAN PAINT -5% STERTECH -4% ONMOBILE -4%.
On stock options front actively traded shares were LT 1400 CE, LT 1450 CE, LT 1350 PE, SBIN 2000 CE, SBIN 1950 CE.
On Nifty options front, positive change in open interest was seen in 5000 CE (499050) 5100 CE(767350) 5200 CE (476200) 4800 PE (316450) 5000 PE (231550). Negative change in open interest was seen in 5300 CE (-185400) 5100 PE (-482800) 5200 PE (-280350). Open Interest in Out of the Money Call Option was 3.03 Cr shares and of Put Option was 4.87 Cr. Open Interest of In the Money Call Option was 61.62 lac shares and of Put Option was 66.89 lac shares.
On technical side, behavior of nifty is absolutely range bound. Today it has breached its extremely short term moving average of 5077 (10 days)on down side but it is still above its 20 day and 50 day moving average of 4983 and 5000 respectively. For extremely short term trader one can buy with stops placed below 4975 level.
In conclusion, my bias is still towards Nifty going down as there are many headwinds on price level that Nifty needs to cross. Major events both domestically & internationally are in near future which has a potential to influence price movements. Domestically RBI Policy, Expiry of current series and internationally solution to Euro Region Problems will have effect on prices more in a current scenario where markets have become extremely range bound indicating confused state of mind of traders. So watch the price levels very carefully as coming few days can change the course of the market for longer period of time.
Happy Trading
Atul Doshi.
Note: If you are happy or unhappy with analysis please leave your comment. It will be taken with admiration.
On price chart, Nifty October futures opened at 5102, made a high of 5131.40 went straight down to 5038.60 and finally closed at 5054 down by 48.85 points. Bank Nifty too followed downward trend, opened at 9783 went up to 9826 drifted down to 9665 and finally closed at 9687.05 down bu 85.70 points.
| SYMBOL | EXPIRY | OPEN | HIGH | LOW | CLOSE | CHG |
| NIFTY | 29/09/2011 | 5102 | 5131.4 | 5038.6 | 5054 | -48.85 |
| BANK NIFTY | 29/09/2011 | 9783 | 9826 | 9665 | 9687.05 | -85.7 |
On volume chart, total no.of contracts traded were58.86 lac and total turnover was 1.50 lac Cr both down from yesterday's level. Put Call ratio was 0.93 and volatility as measured by India VIX stood at 26.3 up by 3 %. Traded quantity and no,of contracts traded were higher than yesterday on net basis across all series though no.of trades were lower than yesterday. Open Interest was up by 1491500 on net basis across all series.
| SYMBOL | EXPIRY | OPEN INT | CHG IN OI | TR QTY | CONT | TRADES |
| NIFTY | 25/10/2011 | 13272300 | -3217250 | -1469300 | -29386 | -18496 |
| NIFTY | 24/11/2011 | 12938100 | 4655400 | 3592950 | 71859 | 5126 |
| NIFTY | 29/12/2011 | 1007750 | 53350 | -48800 | -976 | -575 |
| TOTAL | 27218150 | 1491500 | 2074850 | 41497 | -13945 |
On stock futures front, top traded shares were LT, SBIN, JSWSTEEL, RELIANCE and ICICIBANK. Top gainers were MOSERBAER 8% RAYMOND 8% TULIP 5% CHAMBLFERT 3% BRFL 2%. Top losers were POLARIS -6% JAINIRRIGATION -5% ASIAN PAINT -5% STERTECH -4% ONMOBILE -4%.
On stock options front actively traded shares were LT 1400 CE, LT 1450 CE, LT 1350 PE, SBIN 2000 CE, SBIN 1950 CE.
On Nifty options front, positive change in open interest was seen in 5000 CE (499050) 5100 CE(767350) 5200 CE (476200) 4800 PE (316450) 5000 PE (231550). Negative change in open interest was seen in 5300 CE (-185400) 5100 PE (-482800) 5200 PE (-280350). Open Interest in Out of the Money Call Option was 3.03 Cr shares and of Put Option was 4.87 Cr. Open Interest of In the Money Call Option was 61.62 lac shares and of Put Option was 66.89 lac shares.
On technical side, behavior of nifty is absolutely range bound. Today it has breached its extremely short term moving average of 5077 (10 days)on down side but it is still above its 20 day and 50 day moving average of 4983 and 5000 respectively. For extremely short term trader one can buy with stops placed below 4975 level.
In conclusion, my bias is still towards Nifty going down as there are many headwinds on price level that Nifty needs to cross. Major events both domestically & internationally are in near future which has a potential to influence price movements. Domestically RBI Policy, Expiry of current series and internationally solution to Euro Region Problems will have effect on prices more in a current scenario where markets have become extremely range bound indicating confused state of mind of traders. So watch the price levels very carefully as coming few days can change the course of the market for longer period of time.
Happy Trading
Atul Doshi.
Note: If you are happy or unhappy with analysis please leave your comment. It will be taken with admiration.
No comments:
Post a Comment